12 Different Ways for Companies to Innovate Case Solution & Answer

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Faced with the prospects of slow growth, commoditization and global competition, companies such as General Electric Co., Microsoft Corp. and Ford Motor Co. have stressed that innovation essential to their future success. But what exactly is innovation? Although the issue has come to the top of the CEO agenda, many companies have a narrow view of evil. They could see the “innovation” as a synonym for “new product development” or “research and development” traditional. But as myopia can lead to the systematic erosion of competitive advantage. As a result, companies in a given sector may come to resemble each other over time. In fact, business innovation is much broader than product or technological innovation. In fact, a company can innovate along 12 different dimensions with respect to its (1) Offers (2) platform (3) solutions (4) Customers (5) customer experience (6) capture value, (7) processes, (8) the organization, (9) the presence of the supply chain (10) (11), networking, and (12) marks. Nissan Motor Co., for example, has pioneered the size of the platform, using essentially the same small block engine to power a variety of models, including a luxury midsize sedan, large sedan, luxury sedans and minivans sports coupe. Enterprise Rent-A-Car has pioneered the customer and the size of the presence, placement of car rentals in the neighborhoods where people live and work rather than at airports. Overall, the 12 dimensions of innovation can be displayed in a new scenario called “innovation radar” that companies can use to manage the administration of more complex systems by adding value.
by
Mohanbir Sawhney,
Robert C. Wolcott,
IÃ±igo Arroniz
Source: MIT Sloan Management Review
9 pages.
Publication Date: April 1, 2006. Prod #: SMR207-PDF-ENG
12 different ways for companies to innovate Case Solution